Royal Bank Of Canada (NYSE:RY) Hits New 1-Year High - Should You Buy?

Shares of Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $133.36 and last traded at $131.83, with a volume of 735102 shares trading hands. The stock had previously closed at $132.64.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RY shares. National Bank Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. Cibc World Mkts upgraded shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Scotiabank started coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada Stock Performance

The business has a fifty day simple moving average of $127.40 and a two-hundred day simple moving average of $120.80. The company has a market cap of $185.90 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.52 and a beta of 0.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The company had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. During the same period last year, the business earned $2.92 EPS. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.38%. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 45.67%.

Institutional Trading of Royal Bank Of Canada

Several institutional investors and hedge funds have recently modified their holdings of the company. Trust Co of the South raised its position in shares of Royal Bank Of Canada by 0.3% during the 2nd quarter. Trust Co of the South now owns 25,121 shares of the financial services provider's stock valued at $3,305,000 after purchasing an additional 78 shares during the period. SBI Securities Co. Ltd. raised its holdings in Royal Bank Of Canada by 13.0% during the first quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 84 shares during the period. Ruggaard & Associates LLC raised its stake in Royal Bank Of Canada by 1.8% during the 4th quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock valued at $565,000 after purchasing an additional 85 shares during the period. Contravisory Investment Management Inc. raised its stake in Royal Bank Of Canada by 4.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider's stock valued at $268,000 after purchasing an additional 85 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Royal Bank Of Canada by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock valued at $345,000 after buying an additional 90 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.